Options to Extend Sample Clauses

Options to Extend. After the Initial Term, the City reserves the right, at its sole discretion, to extend the term of this Agreement for four additional one-year terms (“Option Periods") through March 31, 2028. City shall provide Contractor written notice in the form of Exhibit E of its intention to exercise its option prior to the end of the then current term.

Options to Extend. Two options of five years each. To exercise an option to extend, the Licensee shall provide written notice to the Licensor at least 90 days prior to end of the relevant Term.

Options to Extend a. Landlord hereby grants to Tenant two (2) options (singularly an “Extension Option” and collectively the “Extension Options”) to extend the term of this Agreement for additional terms of five (5) years each (singularly an “Option Period” and collectively the “Option Periods”), on the same terms, conditions and covenants set forth in this Agreement, except the monthly rental shall be adjusted as hereinafter provided. Each Extension Option shall be exercised automatically without providing any notice of extension unless Tenant provides written notice delivered to the Landlord that Tenant will not extend the Term of this Agreement at least one (1) year prior to the expiration of the Primary Term or the preceding Option Period. b. Base Rent for the Extension Options shall be as set forth in Section 3.4 of this Agreement. c. Notwithstanding the foregoing, any option to extend the Term of this Agreement shall be deemed null and void, at Landlord’s sole discretion, if one or more of the following has occurred: 1) Tenant has been late in the payment of Rent on three (3) or more occasions within any twelve (12) month period, after Tenant first receiving written notice from Landlord that Tenant was late in the payment of Rent for the first two occasions before a third late payment is to occur. For this purpose, a payment shall be deemed to be late if it is received by Landlord after the tenth (10th) day of the month in which such Rent is due. 2) Tenant is in default beyond any applicable cure period in the performance of any of its obligations under this Agreement at the time Tenant exercises any Extension Option, or at the time of commencement of any Option Period. 3) This Agreement has ever been assigned by Tenant other than as set forth in this Agreement. d. Notwithstanding anything to the contrary contained in the Agreement, at any time after the ninth full year after the Commencement Date, Landlord may elect to terminate the Agreement for any reason or no reason by giving Tenant three hundred sixty five (365) days prior written notice of such election (“Notice”), such termination to be effective as of the date three hundred sixty five (365) days after the date of the Notice (the “Termination Date”). In the event of any termination of the Agreement by Landlord as provided herein, Landlord hereby reserves any and all rights and remedies available to Landlord under the Agreement, at law or in equity with respect to any past due amounts due from Tenant under the ...

Options to Extend. (a) Landlord hereby grants to Tenant the exclusive and irrevocable option to extend the Term for three (3) additional periods (each such additional period being an "Extended Term") of five (5) year(s) each by giving Landlord written notice at least twelve (12) months prior to the Expiration Date of the Primary Term or the then applicable Extended Term. Tenant shall have the right to exercise these options to extend provided that on the date of such exercise no Event of Default by Tenant then exists under this Lease and there then exists no uncured default by Tenant with respect to which Landlord has given written notice to Tenant pursuant to the provisions of Paragraph 30 hereof. (b) Each Extended Term shall be on the terms, covenants and conditions of this Lease then applicable, except that the Fixed Rent for each Extended Term shall be the "Fair Market Rent" (as hereinafter defined) and except that after the exercise of the option for the first Extended Term, Tenant shall have only two (2) options to extend and after the exercise of the option for the second Extended Term, Tenant shall have only one (1) option to extend, and after the exercise of the option for the third Extended Term, Tenant shall have no further options to extend the Term. "Fair Market Rent" shall mean (i) the annual effective rental rate per square foot of rentable floor area then being charged by landlords under new leases of office space in the metropolitan Cary, North Carolina, market for space similar to the Premises in a building of comparable quality and with comparable parking and other amenities, taking into account concessions offered to new tenants such as free rent, tenant improvement allowances, moving allowances and other such concessions, and taking into account Tenant's repair and maintenance obligations under this Lease and the Taxes and expenses Tenant is obligated to pay under this Lease; (ii) the amount of space and length of term taken by the tenant; and (iii) the credit worthiness and quality of the tenant. The fair market value of Tenant's modular office furniture shall

Options to Extend. Tenant shall have the option to extend the term of this Lease for two, ten year periods, subject to the following provisions: 30.1.1 Tenant shall have no right to exercise an option: (a) during the period commencing with the giving of any notice of default and continuing until said default is cured, (b) during the period of time any Rent is due and unpaid, or (c) in the event that Landlord has given three or more notices of separate monetary or material non-monetary defaults, whether or not the defaults are cured, during the 12 months immediately preceding the exercise of the option. 30.1.2 The period of time within which an option may be exercised shall not be extended or enlarged by reason of Tenant’s inability to exercise an option because of Section 30.1.1. 30.1.3 An option shall terminate and be of no further force or effect, notwithstanding Tenant’s due and timely exercise of the option, if, after such exercise and prior to the commencement of the extended term, (a) Tenant fails to pay Rent for a period of 30 days after such Rent becomes due, or (b) if Tenant commits a default under this Lease and such default is continuing after the expiration of the applicable cure periods set forth in Section 17.1. 30.1.4 Tenant shall exercise the option by delivery of written notice to Landlord not less than 12 months prior to the expiration of the initial term and, if exercised, the first option period, of this Lease. If said notice is not delivered within said time period(s), this option shall terminate.

Options to Extend. The City has [number of options] options to renew the Agreement for a period of [one year or other time span] each. The City may extend this Agreement beyond the expiration date by exercising an option at the City’s sole and absolute discretion and by modifying this Agreement as provided in Section 11.4, “Modification of this Agreement.”

Options to Extend. Provided there exists no uncured defaults under this Lease at the time Lessee exercises any option to extend (in accordance with this ARTICLE XXXIV), Lessee will have the right to extend this Lease for two (2) periods of ten (10) years each (each such additional term shall be referred to herein as an "EXTENDED TERM"), commencing immediately following the end of the Initial Term or the immediately preceding Extended Term, as the case may be. The Lease during any Extended Term shall be on the same terms and conditions as during the Initial Term, except that the Minimum Rent shall be determined as set forth in SECTION 34.2 below. In the event Lessee desires to exercise any option to extend granted in this ARTICLE XXXIV, Lessee shall give Lessor written notice ("NOTICE TO EXTEND") not more than three hundred sixty (360) days prior and not less than one hundred eighty (180) days prior to the expiration of the Initial Term or the immediately preceding Extended Term, as the case may be. If Lessee fails to give Lessor any such notice, then such option to extend and all future options to extend granted in this ARTICLE XXXIV shall be null and void and of no further force or effect.

Options to Extend. Landlord hereby grants to Tenant two (2) options to extend (“Option(s) to Extend”) the Term for the Premises for an additional five (5) years per extended option term (“Option Term(s)”), upon each and all of the terms and conditions of this Lease as amended below; provided, however, Tenant is not in default of this Lease on the date of exercise of the Option to Extend and has not been in monetary default of this Lease, for more than thirty (30) days, more than three (3) times during the Term, as extended. Tenant shall give to Landlord written notice on or prior to 180 eighty (180) days before expiration of the then current Term or first Option Term of the exercise of the Option(s) to Extend for such Option Term, time being of the essence. The Term as defined in Paragraph 2 hereof shall also include any Options to Extend properly exercised hereunder. If notice of exercise of any Option to Extend is not timely given, all further Options to Extend shall automatically expire. The rent for the Option Terms shall consist of Base Rent as set forth in Paragraph 3.1 herein, Tenant’s Share of Project Expenses pursuant to Paragraph 5, and any other charges under this Lease. The Options to Extend are personal to Tenant and may not be assigned without Landlord’s written consent which may be withheld in its sole discretion, except that Tenant’s Affiliate(s), if any, shall have Tenant’s rights to such Options to Extend.

Options to Extend. Four (4) periods of five (5) Lease Years each